LateStageCapitalism

LateStageCapitalism

log in
sign up
subreddits
search
sidebar

Poll: 70% of Americans between the ages of 23 and 40 who want to buy a home say they can’t afford…(medium.com)

20 points19 points22 points submitted by thehomelessromantic

jet199 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun 16 days ago

It's not that they can't afford it, it's that they can't justify the cost.

If you actually sit down and work out what a house will cost you once you've paid for it and the interest and the repairs then renting is cheaper at the moment, no matter how much people moan about it.

Houses simply aren't worth what they cost in most places and are only worth buying for investment. A hell of a lot of landlords rent themselves.

Jiminy 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun 16 days ago

I had annoying roommates when I was younger, and then got a one bedroom apartment for myself, which had higher rent of course, but then other neighbors in the building annoyed me. Some were cool that I got along with. But it's a crapshoot, people come and go and some are cool and some are crazy. I was willing to pay more to buy a house with land around it. It does cost more than renting but not by a lot. Of course I did it years ago before interest rates went up which effects a lot.

Right now I'd recommend to someone to rent with a bunch of roommates to pay as little as possible, save money, buy a house if/when rates and prices go down, that may be in a few years. I predicted before this election to help biden but I'm not sure on that.